For those who say stock price can't go lower, YOU'RE WRONG. This dog doesn't even pay a dividend because it was supposed to be a growth stock.🤣🤣🤣🤣🤣 Also, Verizon is expanding Fios to more areas on LI. Bring back Dolan! At least that guy knew how to run a company.
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The Dolans, particularly Chuck, understood the cable business better than most. After all Chuck was a real pioneer in the industry. They had the foresight to see and understand the direction the industry was heading and knew that their equity in the company’s value would be maximized by selling when they did. It’s very hard to imagine why they’d jump back into an industry that is going through these dramatic changes. Jim understood that the real value going forward is in owning or controlling content. It’s the same reason that Comcast bought NBC Universal. The changes in technology have basically simplified the delivery part of the business and diluted the role that a traditional MSO played. We’re now living in this transitional period. Best guess is that at some point somebody will begin buying pieces of the current Altice footprint at bargain prices where the customers in those areas can be absorbed into another providers network…but I don’t think it will be a Dolan.
Offering a dividend really has little to do with the financial strength or weakness of a public company. It is more directly related to cash flow. Altice clearly has major financial issues but dropping the tiny dividend they briefly offered really doesn’t tell us much.
It’s below 4 bucks this afternoon.
Here's some smoke and mirrors
https://www.businesswire.com/news/home/20221215006052/en/Altice-USA-Announces-Successful-Pricing-of-New-Term-Loan
Dolan's not coming back. He made nearly 18 billion dollars off that deal. He's busy playing with his sports franchises.